i.e. are you opening walls to update electrical and plumbing, changing floor plan, etc.All the above will play into deciding the direction best pursued and whether to opt to replace the entire heating system (and with what) or to repair and retain components of the existing system.

I am pretty sure they will need a better margin down the line if they wanted to stay in this game. 

@Lisa Li You are starting the game in a wonderful position.

For those of you who have read any of my posts,  I tend to play both sides of the investment field.  

That’s why this game is so fun, cuz you the boss.  

I play in small ($500K to $1M) investments with my partners, and I find NC LLC structures necessary and sufficient.

:P Reminder again: FHA loans aren't the only game in town for 3% to 5% down.

Only play here is to market & sell the real estate.

I understand townhouse/condos are more of cash flow plays (vs. appreciation) so wanted to get in at lower price to be cash flow positive...hence the recommendation ask.Specific community names would be appreciated...e.g. one I'm aware of is Meadowridge townhouses in Coppell.

In urban California the game is different.